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Time for single currency for Russia and Belarus not yet ripe - PM

“We had such plans, but we postponed them. A common currency must emerge on a certain economic basis,” the prime minister noted

ST. PETERSBURG, October 19 (Itar-Tass) — The time for a single currency for EurAsEC countries is not yet ripe, Russian Prime Minister Vladimir Putin said at a news conference after after a session of the interstate council of the Eurasian Economic Community and the supreme body of the Customs Union on Wednesday.

“We discussed that issue with Belarus for a very long time,” the prime minister noted. “We had such plans, but we postponed them. A common currency must emerge on a certain economic basis,” he added. Putin drew attention to the fact that at the present time most settlements between the countries are in roubles.

“Life itself will dot the i’s and will show what is more advantageous,” Putin said, adding that on the whole the countries are ready for that step, but progress must be gradual.

“We understand difficulties, that this is connected with the exchange rates,” he explained. “These are difficult issues of financial regulation, which are sensitive for the economy of any country,” he added.

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